Choose for different payment plans

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Reference no: EM131909527

1.Cooley landscaping needs to borrow 26,000 for a new front-end dirt loader. The bank is willing to loan the money at 7% interest for the next 10 years with annual, semiannual, quarterly, or monthly payments. What are the different payments that cooley landscaping could choose for these different payment plans?

2. Matt Johnson delivers newspapers and is putting away $15 at the end of each month from his paper route colections. Matt is 8 years old and will use the money when he goes to college in 10 years. What will be the value of Matt’s account in 10 years with his monthly payments if he is earning 6% (APR), 8% (APR), OR 12% (APR)

3. Denise has her heart set on being a millionaire. What payment does Denise need to make at the end of each month over the coming 38 years at 6% APR to reach her retirement goal of $1.05 million?

Reference no: EM131909527

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